First Chinese-Backed Company Makes Historic Debut on Pakistan Stock Exchange]
The Pakistan Stock Exchange welcomes the listing of the first Chinese-backed company on June 15, 2026. Photo: Screenshot from China Media Group
The Pakistan Stock Exchange (PSX), where a Chinese consortium led by the China Financial Futures Exchange holds the largest shareholder position, marked a significant milestone on Monday with the listing of the first Chinese-backed company.
The groundbreaking debut established new benchmarks on Pakistan’s capital market, representing a strategic evolution in China-Pakistan Economic Corridor cooperation. This transition signifies a shift from purely industrial investment to an integrated “industry + capital” dual-engine model, according to China Media Group.
The initial public offering achieved extraordinary demand, raising approximately $28 million through oversubscription by 16.7 times, with the entire issue fully subscribed within five seconds. These figures set new records for both the largest subscription amount and fastest subscription speed in PSX history.
You Hang, vice president of the China Financial Futures Exchange and Chinese director on the PSX Board, emphasized that the IPO represents a milestone in China-Pakistan economic cooperation, completing a comprehensive “closed-loop” process spanning technology introduction, production localization, and capital market integration.
Farrukh H. Sabzwari, CEO of PSX, highlighted the initiative as the largest financing project in the past two decades. He noted that it injects fresh momentum into the exchange, enhances market confidence, and establishes a compelling template for future China-Pakistan collaborative ventures.
The listed entity, Service Long March Tyres Limited (SLM), operates as a joint venture between China’s Chaoyang Long March Tyre and Pakistan’s Servis Group. Pre-listing, the Chinese partners maintained approximately 43 percent ownership. As Pakistan’s premier manufacturer of all-steel radial tires, SLM commands 55 percent of the domestic market share and exports products to international markets including the United States and Brazil.
The funds raised through the IPO will primarily support the construction of a new passenger car radial tire manufacturing facility, as reported by China Media Group.
